If you trust media reported economic indicators as valid, then yes, things are still OK.

If you don't, and western capitalism has collapsed due to its own greed and contradictions, and it is in an even worse shape than it was in 1930 (when its clock was zeroed out), would they admit it? Is a large scale war the only hope to justify the collapse and state sponsored jumpstart of capitalism #3 with the same actors still in power and control?

Let's see, $/EU/UKp is severely devalued due to astronomical debt that can't be possibly repaid without destroying the planet (all resources x 3), but if those currencies get devalued against gold so they can be repaid, then oil jumps to the stratosphere as well, which means nobody can afford it or use it for industrial production. If the "west" loses control of oil distribution/market then it has nothing left but bio-medical/weapons industries, both state subsidized globally by bankrupt governments. Heavy and mass consumed products industries are between S.Korea and India coastline. Neither Japan, nor the US or EU have much of an industry these days, just very specialized ultra-expensive minor specialized markets. The rest is trade of industrial products made elsewhere.
How can you have a large scale war, like ww2, without a running heavy industry able to multiply itself in little time? You can't, the know-how has moved, the tooling has moved, the tooling for the tooling has moved. All they have is oil and weapons, but specialized weapons, not the true mass production of ships, planes, tanks, trucks, guns, ammo. Not even raw material sources to make those locally.

So they sound mean, they act mean, they threaten and blackmail each other, but neither Russia or China, or India have much to worry about.

One thing is for sure, when all this dust and smoke settles, sub-Saharan Africans will still be poor and hungry, and will still pay the tab for Eur/Am madness.